Course detail
International Economics
FP-FieKAcad. year: 2023/2024
This course aims to provide an up-to-date and understandable analytical unified framework for understanding traditional insights as well as the newest findings and approaches in international economics. In analysing both the real and monetary sides of the subject, the approach will help the student to gain and retain the underlying logic of international economics.
Language of instruction
English
Number of ECTS credits
5
Mode of study
Not applicable.
Guarantor
Department
Entry knowledge
Not applicable.
Rules for evaluation and completion of the course
Students attending the lectures will be evaluated on the basis of an individual exam (70% of final grade) and a team assignment, course attendance and a review (30% of final grade).
Control of results of independent work on assigned tasks. In case of excused absence from seminars, the teacher can set additional condition if appropriate, usually elaboration of partial written task.
Control of results of independent work on assigned tasks. In case of excused absence from seminars, the teacher can set additional condition if appropriate, usually elaboration of partial written task.
Aims
The course focuses on the understanding main concepts linked to the trade and monetary issues of international economics. Applications are also discussed while using relevant case studies.
At the end of the curricular unit the students will be able to understand international trade theories, determinants of international trade, international flows of goods and capital and national income accounting and the balance of payments, real and nominal exchange rates and theory of exchange-rate determination, supply and demand for loanable funds and for foreign-currency exchange, equilibrium in the open economy, structure of the foreign exchange-market, optimum currency areas and the European experience and how policies and events affect an open economy.
At the end of the curricular unit the students will be able to understand international trade theories, determinants of international trade, international flows of goods and capital and national income accounting and the balance of payments, real and nominal exchange rates and theory of exchange-rate determination, supply and demand for loanable funds and for foreign-currency exchange, equilibrium in the open economy, structure of the foreign exchange-market, optimum currency areas and the European experience and how policies and events affect an open economy.
Study aids
Not applicable.
Prerequisites and corequisites
Not applicable.
Basic literature
KRUGMAN, P. R., OBSTFELD, M. International Economics. Theory and Policy. Pearson. 2015. ISBN 978-1-292-01955-7.
MANKIW, N. G. Principles of Macroeconomics. Cengage Learning, 2015. ISBN 978-1-285-16591-2.
TEMIN, P. 2016. The American Dual Economy. International Journal of Political Economy, Routledge, 45(2), pp. 85-123. DOI: 10.1080/08911916.2016.1185311. TEMIN, P. 2016. The American Dual Economy. International Journal of Political Economy, Routledge, 45(2), pp. 85-123. DOI: 10.1080/08911916.2016.1185311.
MANKIW, N. G. Principles of Macroeconomics. Cengage Learning, 2015. ISBN 978-1-285-16591-2.
TEMIN, P. 2016. The American Dual Economy. International Journal of Political Economy, Routledge, 45(2), pp. 85-123. DOI: 10.1080/08911916.2016.1185311. TEMIN, P. 2016. The American Dual Economy. International Journal of Political Economy, Routledge, 45(2), pp. 85-123. DOI: 10.1080/08911916.2016.1185311.
Recommended reading
FEENSTRA, R., TAYLOR, A. International Economics. Macmillan, 2017. ISBN 978-13-1912-764-0.
GRIFFIN, W. R., PUSTAY, M. W. International Business. Pearson, 2015. ISBN 978-1-292-01821-8.
NÖLKE, A., VLIEGENTHART, A. 2009. Enlarging the Varieties of Capitalism. The Emergence of Dependent Market Economies in East Central Europe, Routledge, 61(4), pp. 670-702. DOI: 10.1017/S0043887109990098.
GRIFFIN, W. R., PUSTAY, M. W. International Business. Pearson, 2015. ISBN 978-1-292-01821-8.
NÖLKE, A., VLIEGENTHART, A. 2009. Enlarging the Varieties of Capitalism. The Emergence of Dependent Market Economies in East Central Europe, Routledge, 61(4), pp. 670-702. DOI: 10.1017/S0043887109990098.
Classification of course in study plans
- Programme MGR-UFRP-KS Master's 1 year of study, summer semester, compulsory-optional
Type of course unit
Guided consultation in combined form of studies
12 hod., optionally
Teacher / Lecturer
Syllabus
1. International Trade Theories – Classical Country-Based Trade Theories
2. The Heckscher-Ohlin Model.
3. The Standard Trade Model.
4. External Economies of Scale and the International Location of Production.
5. Trade Policy I: Tariffs and Import Quotas.
6. Trade Policy II: Export Subsidies and Other Instruments of Trade Policy.
7. The political Economy of Trade Policy - Sothisticated Arguments for Restricting International Trade.
8. International Movement of Labour and Capital.
9. Prices for International Transactions: Real and Nominal Exchange Rates. Theory of Exchange-Rate Determination based on Purchasing-Power Parity.
10. Optimum Currency Areas and the European Experience
11. Equilibrium in the Open Economy: Money, Interest Rates, and Exchange Rates.
12. Fiscal and Monetary Policy in a Small Open Economy.
13. International Negotiations and Trade Policy.
2. The Heckscher-Ohlin Model.
3. The Standard Trade Model.
4. External Economies of Scale and the International Location of Production.
5. Trade Policy I: Tariffs and Import Quotas.
6. Trade Policy II: Export Subsidies and Other Instruments of Trade Policy.
7. The political Economy of Trade Policy - Sothisticated Arguments for Restricting International Trade.
8. International Movement of Labour and Capital.
9. Prices for International Transactions: Real and Nominal Exchange Rates. Theory of Exchange-Rate Determination based on Purchasing-Power Parity.
10. Optimum Currency Areas and the European Experience
11. Equilibrium in the Open Economy: Money, Interest Rates, and Exchange Rates.
12. Fiscal and Monetary Policy in a Small Open Economy.
13. International Negotiations and Trade Policy.